How far will XRP fall... will it hold $1.31?

▲ XRP/AI generated image ©

XRP (Ripple) is facing short-term downward pressure due to a combination of geopolitical risks and technical breakdown.

According to cryptocurrency market aggregator CoinMarketCap on April 13 (local time), XRP fell by 1.63% over the past 24 hours, dropping to around $1.33. As the overall market showed a bearish trend, with Bitcoin falling by 2.61% during the same period, XRP also declined.

The direct background for this decline is the risk-off sentiment triggered by the breakdown of peace talks between the US and Iran. As geopolitical uncertainties expanded, investors reduced their exposure to risk assets, and XRP, showing high correlation with Bitcoin, could not escape selling pressure.

Technically, the burden has also increased. XRP broke below its key support level of $1.35, turning that area into resistance. Attempts to rebound after a decline accompanied by trading volume have been limited, indicating a strengthened sell-side dominance in the short term.

Furthermore, slowing network indicators have dampened investor sentiment. On-chain activity has weakened, with XRP Ledger payment volume plummeting by 77% in 24 hours, leading to an assessment that there is a lack of short-term upward momentum from a fundamental perspective.

The key going forward is whether the $1.31-$1.33 support zone will be defended. If this zone holds, a retest of the $1.35-$1.40 resistance is possible, but a break below it could open up further declines to $1.20. At the same time, legislative progress regarding the US cryptocurrency market structure bill, the Clarity Act, is expected to be a key variable for a short-term rebound.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*